Globant S.A. (NYSE:GLOB) Short Interest Update

Globant S.A. (NYSE:GLOB) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,310,000 shares, a growth of 11.6% from the December 15th total of 2,070,000 shares. Based on an average trading volume of 438,300 shares, the days-to-cover ratio is presently 5.3 days.

Hedge Funds Weigh In On Globant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its position in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Globant during the third quarter worth about $40,000. American National Bank & Trust boosted its stake in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after buying an additional 92 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GLOB shares. Susquehanna started coverage on Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Scotiabank boosted their price target on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Citigroup raised their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $230.44.

Globant Trading Down 1.6 %

Shares of GLOB opened at $213.48 on Monday. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 2.26 and a beta of 1.38. The firm’s fifty day simple moving average is $220.21 and its 200-day simple moving average is $207.10. Globant has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.